- Ludwig Von Mises
The return on Ponzi capitalism in terms of higher incomes and wealth for the majority on this planet, is always just around the corner. And while that's not happening, the ranks of the ultra-wealthy keep getting smaller and wealthier. Go figure.
Data from: https://us.spindices.com/indices/equity/sp-500
No company epitomizes what is wrong with the U.S. economy more than Amazon. It's a company that has been cumulatively unprofitable for 25 years straight, pays nominal wages to the majority of its staff, adds zero value to the economy, all while decimating traditional retail. Amazon is always seeking to reduce its reliance on low paid workers, by hiring robots instead.
The reason why we need ever-cheaper junk - both in terms of price and quality - is because real wages are declining even faster than prices. It's an excellent argument for how to become a Third World country.
"Using Kensho, a quantitative tool used by hedge funds, CNBC found Amazon rose 1.9 percent on average during Prime Day week in the last three instances. The Amazon return approximately doubled the S&P 500’s performance in the same time periods."